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Smartenergy to sell solar power projects in Spain, Expansion says

Reuters
·1-min read

MADRID (Reuters) - Swiss renewable power group Smartenergy plans to sell a portfolio of solar power projects in Spain, Expansion newspaper reported on Thursday, citing unidentified market sources.

The projects, still in development, would be worth 1 billion euros ($1.09 billion) once in operation, the newspaper said, adding the privately held company had hired Credit Suisse as an adviser to the sale.

Smartenergy and Credit Suisse did not immediately respond to requests for comment.

With its sunny plains, fast-flowing rivers and windy hillsides, Spain is attracting many investors for renewable energy projects and several power companies such as Iberdrola and Grenergy have announced sales of assets in the country.

($1 = 0.9169 euros)

(Reporting by Inti Landauro; editing by Jason Neely)